- GSR Markets analyzes the potential for a Solana ETF launch, assessing decentralization and demand scores.
- The ETF Risk Rating signifies the potential launch of Solana Spot ETF.
- The report forecasts an 8.9x surge in SOL’s worth following the ETF launch.
GSR Markets, a distinguished crypto buying and selling platform and liquidity supplier, not too long ago revealed a weblog submit analyzing the prospects of a spot Solana exchange-traded fund. Whereas Solana has established itself among the many high three cryptocurrencies, GSR’s evaluation suggests Solana could possibly be subsequent in line for an ETF, following Bitcoin and Ethereum.
The important thing determinants for the subsequent spot ETF are the extent of decentralization and potential demand. To evaluate Solana’s decentralization rating, GSR Markets analyzed metrics such because the Nakamoto Coefficient, staking necessities, and CCData Governance Ranking. By way of decentralization, Solana follows Ethereum with a rating of 0.4, whereas Ethereum scored 0.5.
For demand evaluation, GSR evaluated numerous metrics together with market indicators, current product property below administration (AUM), and exercise metrics. The evaluation recognized Ethereum, Solana, and Close to as blockchains with above-average demand. Ethereum ranks first with a rating of 1.5, adopted by Solana and Close to with 0.7 and 0.1, respectively.
The mixed decentralization and demand scores present the ultimate ETF rating. Solana secured a rating of 0.58, second to Ethereum’s 1.13. The report means that if a SOL ETF launches, it might drive the SOL worth up by 1.4 instances in a bear market and eight.9 instances in a bull market. Moreover, GSR’s “blue sky state of affairs” predicts a Solana spot ETF might seize 14% of the Bitcoin ETF movement since its January launch.
In the meantime, the SOL token is trending positively, marking a every day surge of over 6%. At the moment buying and selling at $144.77, Solana skilled a notable 9% improve over the previous week, regardless of a 13.15% dip during the last month.
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